Does anyone know if a real estate agent can demand that you to use a particular mortgage broker to actually get your mortgage (not just prequalify you)? I am in a really bad situation right now in which the listing agent of a home (who is also a mortgage broker) will not let the seller accept our offer on the home unless the mortgage is done through her. She also has presented the seller with our credit reports. I think this is illegal - Can anyone help?
mlp924
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Re: Desperately need help!!
This is totally illegal! If I were you, I would contact LIBOR (Long Island Board of Realtors). They are in Babylon! Good Luck!
Samanthas Mom
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Re: Desperately need help!!
I put some links on newlyweds for you that may help you find stuff
danigirl0
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Re: Desperately need help!!
that IS illegal...what company? im working for century 21 ans we can recommend a broker, but no one can require a broker.....do you have an attorney?
Meg9-20-02
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Re: Desperately need help!!
Thanks everyone. I do have an attorney but have not yet contacted them yet. This all came about over the weekend. The listing agent has her own company (named after her) - I'm not sure I want to post her name just in case. She doesn't even have an office supposedly. It went from we must be pre-qualified through her to the buyer won't accept our offer unless we go through her. I am documenting all our conversations and saving all the messages she leaves me. My agent (from Prudential) said we can report her but I don't want to lose the house so I will probably hold off. Thanks again for all your responses!
michele31
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Re: Desperately need help!!
Call the MAIN office of the real estate agency! So if she is with one of the 'larger' firms or other name brand agency you can let them know about this blackmail. I would also, call the suffolk or nassau DA's office right away and speak to them about this. From what I understand this is illegal. You see, the agent will get her commission for the home sale and also money if you use her as a mortage broker. In all honestly, you are better off losing the home OR speaking to the home owner about this situation directly, then allowing her to blackmail you. also POST her info so none of us every, every use her. And your attorney can also help you.
Misty
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Re: Desperately need help!!
She showed your credit report to the homeowner???
You should contact fraud agencies also! This is completely illegal!!
MichelleW
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Re: Desperately need help!!
Meg,
She has just committed many MAJOR illegalities. She can loose her license for whah she is pulling, hope she realizes that
Jenn P
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Re: Desperately need help!!
Meg, having just bought a house I understand how you feel about not wanted to lose this house but please remember there will be others. This is a situation that is clearly going to get worse for you down the road. If she is being difficult now, imagine how she will be when she is processing your mortgage. She can charge you any fees she wants and I’m sure she will because she’s already shown she’s unscrupulous by showing your credit report to the sellers. I would report her and then keep looking. JMHO. Good luck.
Meg9-20-02
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Re: Desperately need help!!
Thank you everyone! I just spoke to my agent has already reported her to the ethics board. She told me everything this other agent is doing is 100% illegal. When my DH told the listing agent that he wasn't comfortable with her sharing our credit reports, she claimed it is done all the time. When DH said no way because we've put offers on other houses before and they haven't done it, she ended up putting him on hold and then disconnecting him. This is nuts!! My agent is going to take our pre-qual. from another broker and bring our offer directly to the sellers. I think that's the best thing to do at this point. The listing agent doesn't even work for a big company - She has her own real estate company out of her home - ??? - Thanks again for all your help and support everyone! It's definitely made me feel better
Fran M
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Re: Desperately need help!!
Good Luck Meg I hope it works out for you.
Meg9-20-02
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Re: Desperately need help!! - UPDATED
Okay - Update for everyone - This agent supposedly gave the house away last night to another buyer. After showing the seller our credit reports (!!!), they decided the other buyers were better since they had more money. Anyway, long story short, I'm in the process of filing a complaint with the Dept of State on her for black-mail, fraud, etc. My realtor already filed a complaint with the ethics board. I also found out from a friend of mine last night who is a social worker that this realtor has tried in the past to scam the homeless people she works with out of money! How low can you be?! Anyway, I will now post her info as requested before - Debra Vaccaro of Debra Vaccaro Realty - Works out of her home in West Babylon If you run into her, just be careful. Thanks for your help everyone!
eroxgirl
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Re: Desperately need help!! - UPDATED
WOW! The nerve of people...thanks for posting her name!!
Samanthas Mom
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Re: Desperately need help!! - UPDATED
what nerve at least now people can avoid her!
Fran M
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Re: Desperately need help!! - UPDATED
Wow - what a worm she is. Can you file something like this with the BBB?
Sorry about the house.
Misty
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Re: Desperately need help!! - UPDATED
That is unreal. What a snake!!!
smooch
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Re: Desperately need help!! - UPDATED
There MUST be some method of recourse for you! Contact your attny to find out. I can't believe she blackmailed you AND showed your credit report to the sellers!!
Completely illegal!!!
Meg9-20-02
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Re: Desperately need help!! - UPDATED
Thanks for your support everyone!! Fran - I can't report her to the BBB because she isn't a member (surprise, surprise) - I'm not going to stop until I make sure she doesn't do this to anyone else!
